The cuts, set to come into effect in 2024, would cost the government $137 billion between 2024 and 2030, by applying a standard 30 per cent income tax rate to those who earn between $45,000 and $200,000 a year.
Read more at Accountants Daily.
Stage 3 tax cuts to ‘exacerbate’ further inequality
Australia’s stage 3 tax cuts are likely to make the nation’s income tax system less progressive, overwhelmingly benefit the wealthy and spur further inequality, as for every dollar of the tax cut that women get, men get two, says one think tank.
